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记者的观察
The realities of real estate0 \% H P# }" g t7 U$ m! F9 _
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Published: Friday, October 06, 2006
- @) w- r& q5 ]EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.# w' P# M. Y! q1 N* x: Z. s7 h
; |1 w* k; K G# }3 ZThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.& V( ]1 v/ w- s- n. O7 A0 e- ?
4 q( y/ k6 M2 X- ~She moved here in December with dreams of being a homeowner, something she could never afford in Vancouver despite four years of saving her money for a down payment.
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But she didn't expect Edmonton's world of hot housing where the law of successful buying seems to consist of three elements: speed, cash and no conditions.! W* L8 w7 n9 y8 J, p. z( `
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"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.1 ~) ]! C2 U3 N
5 q2 }% n$ }9 b- x, T$ T4 NBut she has lost out on four places since beginning her search for a house.) w) H, o& ]0 ?
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She's been outbidded, "out-offered" and "outconditioned."7 q6 ^' F6 }# D0 v; Z( T: \
* O5 L' \; p, o* K: Y9 q3 LOne house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.- Y! p' M6 t9 c9 d( @/ {4 R
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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9 y% I' }$ U+ s2 R/ K* b; S0 SForty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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: w' T$ e1 i9 ^* n, qShe left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.; n# Z$ H6 z8 Y5 G' v( ]1 e) f( N
1 k: O9 X9 W+ ~0 s3 ^Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.7 v$ F4 D9 I) c( A; K
/ M/ m0 d/ s1 T: `& n& }# w( DSo Daly has been checking out townhouses, but even that has been difficult for her.. J# t) ]$ R6 V) V" e1 a
3 A9 ?2 y! ?3 ~% k5 l"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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An average single dwelling unit in Edmonton sold for $316, 480 in August this year. An average townhouse, which includes the price of duplexes, sold for $262,327 in the same month. Last year in August an average townhouse sold for $175,922.7 y3 i2 Z9 G) k
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.
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; z" D! I( H' t ~$ J4 p& r"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."( X( a: ]3 ^3 _; d. M2 Z- B( q
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That may mean sellers are not as open to "conditions" on offers as they used to be -- such as a house inspection before the deal is finalized. |
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